Haig Bathgate comments on investment trusts post-RDR

Haig discussed the matter that liquidity is an ongoing issue for closed-ended funds, and will become more important with the advent of RDR:"If we recommend one investment trust for one client then we should be able to recommend the same trust for every client to treat everyone fairly, but some are just not liquid enough for this to happen," said Bathgate.

"This will only get worse as more and more consistency is being demanded by private clients as they allocate their funds.

"As we do not want to disturb the client base we only invest in small investment trusts on a tactical basis, they would never form a core part of a model portfolio."